AuthorTopic: Imminent financial collapse (Read 2434 times)

Yeah real eye opener that series, I posted on it some time ago as it is a real indicator how bad things are, especially the first episode about that mall/shopping centre. Good to see you are still kicking about [/quote]Yeah have no internet or very little mobile signal depending on weather up the cabin ,so can only get on when back down the coast , what a great idea DP I know of a few caves seal entrance pipe out the wall from heater , just like home

Things are rapidly escalating toward collapse. Yesterday driving to the coast from NSW outback listening to the only channel available ABC, they had a guy talking about the big share price drop in Australian banks. He was actually being honest saying the banks shares are over bought, they have too much bad debt, earnings is around 3-5% but share prices are more than 25 times earnings - so there has to be a major fall in Aus bank share price. The cost of borrowing for the banks is going up so the cost for borrowing from the banks will also go up and that will again reduce bank profit.... It is all heading down very quickly.

Some scary articles in the news today.

The world financial systems are only held by bond buying by central banks - this is coming to an end.Both ECB And BOJ Are Just Months Away From Running Out Of Bonds To BuyYou are not allowed to view links.
Register or Login

High level of fraud and very casual lending of money to buy houses is what lead to the last global financial crisis (GFC). The kind of thing going on is that a woman living on food stamps (welfare) was convinced to by a very expensive car and her income was stated at $60,000pa and that she owned her own home -but she was renting. The last GFC many people purchased house and never even made more than one payment. Just lived in the house for fee till it was repossessed. The money was borrowed was sold on the stock markets. Now it is all happening again with auto and student loans.

UBS Hints At Rampant Auto Lending Fraud; "It’s Not Just Smoke And Mirrors Anymore"You are not allowed to view links.
Register or Login

Venezuela oil production is dropping and their refineries are only operating at half production as they cant afford spare parts to maintain the facilities. Venezuela's Oil Production On The Brink Of CollapseYou are not allowed to view links.
Register or Login

More direct attack against the Russians and Iran and Syria, one wonders if Australian air force was involved...US Coalition Jets Strike Assad Convoy In Southern SyriaYou are not allowed to view links.
Register or Login

Big red flag, the Brazilian president is now going dictator to try and maintain the presidency,Brazil Stock Market Halted After Plunging 10%: What Happens NextYou are not allowed to view links.
Register or Login

Greek police are protesting and have taken over a few gov buildings, that is escalation that is not going to end well.You are not allowed to view links.
Register or Login

Things are rapidly escalating toward collapse. Yesterday driving to the coast from NSW outback listening to the only channel available ABC, they had a guy talking about the big share price drop in Australian banks. He was actually being honest saying the banks shares are over bought, they have too much bad debt, earnings is around 3-5% but share prices are more than 25 times earnings - so there has to be a major fall in Aus bank share price. The cost of borrowing for the banks is going up so the cost for borrowing from the banks will also go up and that will again reduce bank profit.... It is all heading down very quickly.

Some scary articles in the news today.

The world financial systems are only held by bond buying by central banks - this is coming to an end.Both ECB And BOJ Are Just Months Away From Running Out Of Bonds To BuyYou are not allowed to view links.
Register or Login

High level of fraud and very casual lending of money to buy houses is what lead to the last global financial crisis (GFC). The kind of thing going on is that a woman living on food stamps (welfare) was convinced to by a very expensive car and her income was stated at $60,000pa and that she owned her own home -but she was renting. The last GFC many people purchased house and never even made more than one payment. Just lived in the house for fee till it was repossessed. The money was borrowed was sold on the stock markets. Now it is all happening again with auto and student loans.

UBS Hints At Rampant Auto Lending Fraud; "It’s Not Just Smoke And Mirrors Anymore"You are not allowed to view links.
Register or Login

Venezuela oil production is dropping and their refineries are only operating at half production as they cant afford spare parts to maintain the facilities. Venezuela's Oil Production On The Brink Of CollapseYou are not allowed to view links.
Register or Login

More direct attack against the Russians and Iran and Syria, one wonders if Australian air force was involved...US Coalition Jets Strike Assad Convoy In Southern SyriaYou are not allowed to view links.
Register or Login

Big red flag, the Brazilian president is now going dictator to try and maintain the presidency,Brazil Stock Market Halted After Plunging 10%: What Happens NextYou are not allowed to view links.
Register or Login

Greek police are protesting and have taken over a few gov buildings, that is escalation that is not going to end well.You are not allowed to view links.
Register or LoginYou are not allowed to view links.
Register or Login

Investments in stocks & bonds will be smashed.Accumulation Super will be smashed.My Super is tied up in a Defined Benefit Scheme - l have to retire to get at it & l am 3 years off minimum age to do that.Thinking of my parents - Will purchased Retirement Annuities hold up?

Is there any benefit in borrowing money to buy PM now in the hope of selling the PM to pay out the debt when the Mega GFC hits?No way l can clear the mortgage in the next 3 months, given 3 years l probably will have it off my back.

Investments in stocks & bonds will be smashed.Accumulation Super will be smashed.My Super is tied up in a Defined Benefit Scheme - l have to retire to get at it & l am 3 years off minimum age to do that.Thinking of my parents - Will purchased Retirement Annuities hold up?

Is there any benefit in borrowing money to buy PM now in the hope of selling the PM to pay out the debt when the Mega GFC hits?No way l can clear the mortgage in the next 3 months, given 3 years l probably will have it off my back.

Better get some more rice & beans put away...

I am in a similar boat, cant get super out and mortgage too far away to pay off. If you had spare cash purchasing physical gold will be good. Gold shares etc are a waste of money as there is more gold shares and notes out there than there is actual gold - it is one big circus.

Bulk wheat, rice, beans, pasta, and lots of canning jars and tin foods is the way to go. One could put money in a solar battery system, extra water tanks etc.... Time to panic prep.

Personally I think the crash will be so big that all the banks and gov will go broke and there will be like a 6 month banking holiday. The debt is so big. Australia has one of the highest personal and credit card debt - the system will just implode.No one will be chasing up debt on your house as the house prices will fall so low it is not going to matter, the debt courts if still working will be overloaded. The gov will have no place to house people so you just get to stay in your house. Majority of fuel in Australia is directly imported from Singapore - fuel reserves are like 3 weeks - then all systems except perhaps for emergency services shut down. Any bugger trying to colonise my current residence under those conditions will be greeted with a very hostile reception.

I think it is a good chance it will very rapidly lead to a teotwawki event of no return. Food storage, meds etc... is the way to go..... I am starting to scare myself now - the insanity in our financial system and living beyond our means has to come to an end.

Note China, EU, Japan and US printing money like no tomorrow $1,2T year to date - every economy that has printed money has had a catastrophic collapse - this time it is global in nature - the world has never been there before....... The quadrillion dollar question is when, there are lots of sings that by the end of 2017 is a strong possibility.... The war drums are also beating again.

We have to live and my biggest concern is "cash" for likes of council rates etc etc etc.Have got some cattle we bought and they can go at anytime. Wanted to sell them last month, but as we had that much feed wife's idea was to hold them and add some more weight to them.I am thinking as soon as the frosts hit we will shed them and take the money and run so to speak.Would love to have a bit more gold and silver, but that eats into standby cash.Debt free and with power backup from solar/batteries, fuel stored away, a lot of spares stored.Buggered if I know what else to do atm!?

Logged

Loose ends make my arse itch and I have just clipped my finger nails. So the itch flows to my trigger finger.